The California Legislature could soon cap rent increases for millions of families statewide. Here's how the plan would work.
California lawmakers are on the verge of approving one of the only state laws in the nation to limit rent increases after Gov. Gavin NewsomThe measure, Assembly Bill 1482, would limit yearly rent increases statewide to 5% plus inflation for the next decade. Experts believe the measure would provide more stability for renters while also potentially leading to more regular rent hikes for tenants. Powerful interest groups have lined up against the measure, and its passage by the Legislature’s Sept.
The legislation would not override existing rent control rules in Los Angeles, San Francisco, Oakland and other cities that have them or want to adopt them. However, the new bill would expand the number of properties subject to some restriction on rent increases in those cities. “This really is an anti-gouging cap and that is its effect,” said Elizabeth Kneebone, the Terner Center’s research director. “It would not affect the majority of rent increases.”
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